Samsung Biologics wins $1.24 bil. deal for contract manufacturing

Samsung Biologics' plant 4 in Songdo, Incheon / Courtesy of Samsung Biologics

Samsung Biologics said Tuesday it has signed a deal worth $1.24 billion for contract manufacturing from an Asia-based biopharmaceutical firm.

The deal will last until the end of 2037, the company said in a regulatory filing. Other details remained undisclosed under a confidentiality agreement.

Samsung Biologics said the deal reaches almost half of the value of its combined manufacturing deals for last year at 3.5 trillion won ($2.53 billion).

So far this year, Samsung Biologics has secured nine deals worth a combined 4.36 trillion won with global biopharmaceutical companies. (Yonhap)